Novanta Inc reports results for the quarter ended in June - Earnings Summary

Novanta

06/08/2024 14:52

* Novanta Inc  NOVT.OQ  reported quarterly adjusted earnings
of 73
cents​​ per share for the quarter ended in June, lower than the
same quarter last year, when the company reported EPS of 80
cents.  The mean expectation of three analysts for the quarter
was for earnings of 69 cents per share. Wall Street expected
results to range from 69 cents to 70 cents per share.
    * Revenue rose 2.8% to $235.90 million from a year ago;
analysts
expected $233.61 million. 
    * Novanta Inc's reported EPS for the quarter was 38 cents​.
    * The company reported quarterly net income of $13.76
million.
    * Novanta Inc shares had fallen by 4.1% this quarter and
lost 7.1%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.9%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electronic
equipment & parts peer group is also "buy"

Wall Street's median 12-month price target for Novanta Inc is
$178.50 
This summary was machine generated from LSEG data August 6 at
01:52 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.69           0.73           Beat
 Mar. 31 2024      0.58           0.74           Beat
 Dec. 31 2023      0.63           0.63           Met
 Sep. 30 2023      0.74           0.85           Beat